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Adair County School Board meeting report April 19, 2012 In last night's Adair County School Board meeting:
By Ed Waggener The Adair County Board of Education faces a tight financing situation on the new Elementary School, and may have to trim some elements of the plan, but, based on a bonding potential update from Joe Nance of Ross, Sinclaire that the system will have a total bonding potential of $12.4 million, the board moved ahead with the project and anticipates final design from architects Sherman Carter at the May 17, 2012 Board meeting, with authorization for bids to be advertised at that time. In a brief session, the board also was reminded of the end of school event, approved a bonds refinancing program with an aim to saving a net of $95,888 over the same period as the bonds they are replacing, in addition to routine matters. Chairman Floyd Burton (Division 4) presided, with members Marsha Walker (Division 2), Joe Payne (Division 3), and Rebecca Turner (Division 1) also present. Mike Harris, (Division 5), was absent this meeting. Bonds refinancing approved unanimously. Ross, Sinclaire & Associates Representative Joe Nance presented a proposal to refinance three bond issues to take advantage of rates which he said were at historic lows. Nance proposed refinancing: 1) 2003 KISTA KADD Bonds originally issued to Finance Phase III at Middle School with an average current interest rate of 4.45%, 2) 2002 KISTA KADD BONDS originally issued to finance Phase II Improvements at the Middle School, with an average current interest rate of 4.85% and 3) 2000 KISTA KADD Bonds, originally issued to finance additions and renovations at John Adair Intermediate School, with an average current interest rate of 5.60%. In their place new bonds would be issued with a projected current rate of 2.35% and a projected total combined net savings, after the cost of re-issue, totalling $95,888. Nance said that his work to get the bonds ready for bid would take about three weeks. The proposed re-financing was approved unanimously by the board meeting as the Adair County School District Finance Corporation, and, after reconvening as the school board, it was approved again, unanimously. The terms of the bonds will be exactly the same as the old bonds, Nance said, and compared the process to that of homeowners re-financing mortgages when rates are lower. Despite lack of help from legislature, elementary school a go Mr. Nance told the board that despite the disappointment of the failure of the Kentucky legislature to include Urgent Needs Funding, for which the replacement of Colonel William Casey School was in a top priority, the District does appear to have adequate bonding power to proceed with the project. Nance present documents which showed that the Adair County School District has a bonding potential of $11,450,00, to which Restrict construction cash of $257,547 can be added along with $700,000 from a prior construction fund balance for a total of $12,407.547 projected to be available for the elementary school project. This falls just short of the upper limit estimate of the architect for a complete project with a new entrance on the Adair County Veterans Memorial Bypass, a pure geo-thermal heating and air system, and a commercial quality metal roof, which they estimate to have a possible price tag of $13,200. However, according to Construction Manager Branscum Construction Company and the Architects, Sherman-Carter-Barnhart of Lexington, the project will be bid with alternative packages for the entrance, the heating/air system and the roof. The new entrance might cost as much as $500,000, and while greatly adding to the convenience, could be eliminated altogether, done with only the dense, weight bearing coat of blacktop, or be finished with gravel only initially. The heating system will be bid for both a pure geo-thermal system and a hybrid one with a cooling tower. The latter would cost less, and, the architect said, would be almost as efficient as a purely geothermal system.Finally, while the architect said that a commercial metal roof is preferable, a 30 year shingle roof might save over $200,000. On an optimistic note for lower bids, the architects noted that site analysis has indicated that the geothermal system location will be more conducive to installation than the one at the ACES location was, where contractors had to bid more to allow for extensive drilling in rock. This could mean a better bid. And the entry site does not have the spongy clay which was found at the Adair County Elementary School site, so the entrance bids may be lower. And, they added, though the economy is heating up a bit, there are still good builders hungry for projects this summer. The board, Ross, Sinclair and Associates, and the architects think that they will be able to see the bids let in time for the school to be built for an August 2013 school opening. Going ahead mean that the board will be in better shape for state funds Mr. Nance advised the board that going ahead would not jeopardize Urgent Needs Funds when the Kentucky Legislature gets around to funding. "Remember, he said, "they require that all available local funds be spent first. By virtually depleting your bonding potential, you would be in line for a greater percentage of State Urgent Needs Funds in two years for the other critically needed replacement of John Adair Intermediate School." Superintendent report Superintendent Darrell Treece, in his report, reminded the board that only 17 days remained on the school calendar. Testing will take place April 30 through May 4. He again cautioned that scores from the new tests will not be directly comparable to scores from the past. He said that a the county is planning to place one of its severe weather early warning sirens on a 50 ft. tall pole on the campus, and that a drill is planned, but assured staff present and the board that the drill would not take place during the critical test week. He told the board of end of school dates: Graduation will be at 7pmCT, May 18, 2012, at Adair County High School gym, 526 Indian Drive, Columbia, KY. Awards night will be at 7pmCT, on Thursday, May 17, 2012, at the high school, the same night as the May School Board meeting. On the May 16, 2012, he said, the Adair County Ministerial Association is planning a baccalaureate service independent of the school oversight, with voluntary attendance. On May 15, 2012, the Adair County Middle School will observe a promotion ceremony at 6pmCT, at the ACMS gymnasium, 322 Gen. John Adair Drive, Columbia, KY. Consent Agenda Unanimously approved The board unanimously and without discussion approved the consent agenda, which contained the following items:
End of Report, Regular Meeting, April 19, 2012 Information About Your Adair County Schools The Adair County School Board meets at 7pmCT, each third Thursday, at the Board Conference Room, lower level, 1204 Greensburg Street, Columbia, KY. Adair County Board of Education: Chairman Floyd Burton (Division 4) Members Rebecca Turner (Division 1); Marsha Walker (Division 2), Joseph Payne, (Division 3), Mike Harris (Division 5) . Superintendent Darrell Treece. Federal Programs Director and Director of Public Relations Alan W. Reed. School Board Attorney Jeff Hoover. Assistant Superintendent Brenda Mann, Instructional Supervisor Phyllis Curry; Anita Wethington, Special Education Director; Mike Akin, Title 1 Coordinator; Carla Perkins, Technology Coordinator; David Jones, Transportation Director; Ricky Bault, Maintenance Director; Carol Roy, Food Services Director; Renae Smith, Finance Officer. Becky Bailey, Board Secretary. This story was posted on 2012-04-20 16:09:46
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